Crypto Market Begins Pullback This Saturday, XRP Still Pumping But Ethereum Back To Second Spot

2018-09-22

It’s a relatively quiet day at the start of the weekends after much excitement and drum beating yesterday, The crypto Top 100 is a mix of green and red and most has begun a pullback after a strong performance yesterday.

The market capitalization is still on an uptrend albeit slower this time at $223.5 Billion from yesterday’s $221 Billion. The 24-hour volume has risen as well at $24 Billion.

Bitcoin is slowing down and currently at $6693 at the time of this writing. earlier in the day it broke the resistance at $6790 but quickly went down to its current level. Volume has risen to $6 Billion and it still remains to be seen if the bulls can break over the $6850 resistance and confidently push above $7k in the short term.

The excitement of the day is mainly centered at Ethereum as it battles with XRP for the second position in the market capitalization. Eth has won a couple of times as it continues to swing with its volume. It has grown 5.36% today and currently at $238 at the time of this writing. It passed by several resistances since yesterday to reach its current level but technical analysis for both MACD and RSI signals that it is going down in the short term.

Ripple’s XRP really went to town as it rose another 17.17% today, bringing its price to $0.575 from yesterday’s $0.470. It went over Ethereums volume several times now but was not able to hold the spot. Twitter was abuzz over the “flippenning”, a word that annoyed most of Ethereum fans who have long been predicting the “flippenning” of Ethereum over Bitcoin. For the rest of the Top 10, most are in a pullback with 0-3% loss on the day, except EOS, which is on the green at 3.16%.

The Top 25 coins on the crypto market is in a similar pullback with Tezos leading the biggest losers of the day. Most are on the negative with a 0-3% loss. Ontology is the only one with good performance today at 8.62% and trading at $2.09.

It’s a mixed lot on the Top 100. A couple of unfamiliar coins is beginning to make a name for themselves. Electroneum, which has pumped earlier this week is back on the biggest gainer list at 15.23%. Power Ledger and Emercoin are both on the green at 12%. Kin, Monacoin, and Loopring completes our double-digit gainers at 10-11%. On the other side of the coin is Aurora, currently dumping at -18.52% after making a killing yesterday.

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